Maritime companies have generally failed to gain respect from investors. With a few exceptions, share prices are below the net asset values - a proxy for the liquidation value if a company could be broken up, assets sold, and debt paid off.
The state-owned Vietnam National Shipping Lines (Vinalines) will try a second public share sale of the remaining 480 million shares not purchased at its recent public offering early September, reported Vietnam News. The company said it will come back to the Hanoi Stock Exchange soon to complement its initial public offering (IPO) which attracted little interest.
Vietnam’s Prime Minister has approved a privatisation plan of Vietnam National Shipping Lines (Vinalines), report Vietnamese media.
Shipping unit of Indonesian port operator Pelindo II, Jasa Armada Indonesia, is expecting to raise about IDR924.3bn ($68.5m) in fresh funds after setting its initial public offering (IPO) price at between IDR325 to IDR530, local reports said.
Thailand’s newly-listed Prima Marine (PRM) is planning to double the size of its fleet over the next three years, including the purchase of at least one VLCC and two FSO vessels, reports said.